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Old 09-05-2008, 09:38 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 15,097,622 times
Reputation: 1008

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It's funny how they announced this late in the day !

Government may soon back troubled mortgage giants: Financial News - Yahoo! Finance (http://biz.yahoo.com/ap/080905/mortgage_giants_crisis.html - broken link)
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Old 09-05-2008, 09:49 PM
 
Location: Southeast Georgia
65 posts, read 215,935 times
Reputation: 46
How nice of them to wait until after trading closes to let it leak.
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Old 09-06-2008, 05:25 PM
 
2 posts, read 3,006 times
Reputation: 12
Ouch if you were a shareholder
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Old 09-06-2008, 08:42 PM
 
Location: Yardley PA
689 posts, read 1,997,642 times
Reputation: 182
So what does this mean for the normal person wanting to get a loan? Will it be easier/harder/the same? (also, I just bought a crapload of their stock.. Oh well)
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Old 09-06-2008, 08:44 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 15,097,622 times
Reputation: 1008
better rates but stricter guidelines
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Old 09-06-2008, 09:22 PM
 
Location: Full time RV"er
2,403 posts, read 5,621,267 times
Reputation: 1459
Quote:
Originally Posted by ooodsie View Post
So what does this mean for the normal person wanting to get a loan? Will it be easier/harder/the same? (also, I just bought a crapload of their stock.. Oh well)
Oh' well part of your statement is 100% correct ( you bought crap) as to it's value now last i heard it would make your flowers grow ( Crap that is ) and thats all you will have by 8:am Monday morning
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Old 09-07-2008, 09:45 AM
 
Location: Yardley PA
689 posts, read 1,997,642 times
Reputation: 182
can they really get much stricter than they are currently? theyre pretty tough right now unless youre almost perfect.

Quote:
Originally Posted by renriq02 View Post
better rates but stricter guidelines
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Old 09-07-2008, 10:12 AM
 
Location: Charlotte, North Carolina
5,137 posts, read 15,097,622 times
Reputation: 1008
they can get a lot stricter.

lenders are already rejecting loans that fit the normal guidelines.

They're wanting to get the best loans to be able to sell it.

Quote:
Originally Posted by ooodsie View Post
can they really get much stricter than they are currently? theyre pretty tough right now unless youre almost perfect.
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Old 09-09-2008, 05:34 PM
 
Location: Cary, NC
1,036 posts, read 3,628,214 times
Reputation: 503
Dont forget, Fannie Mae was already planning to eliminate all "Alt-A" products by the end of the year. Not that there are many left, but basically getting even tougher on verification of income and assets than before.

Things can always get stricter. Hopefully this will increase stability and not end up costing taxpayers too much.
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